Paddy power blog

Online gaming drives revenue growth at Paddy Power Betfair BelfastTelegraph.co.uk Gambling giant Paddy Power Betfair has seen revenues jump by almost a fifth, on the back of soaring online gaming growth. https://www.belfasttelegraph.co.uk/business/uk-world/online-gaming-drives-revenue-growth-at-paddy-power-betfair-38071761.html https://www.belfasttelegraph.co.uk/business/uk-world/article38071759.ece/48579/AUTOCROP/h342/bpanews_87239d39-74d5-4ff2-a8e3-dbdf42260b99_1 Email Gambling giant Paddy Power Betfair has seen revenues jump by almost a fifth, on the back of soaring online gaming growth. Revenues rose 17% to £478 million for the three months to March 31. Online gaming revenues surged 31% to £76 million, driven by the “strong growth” of Paddy Power’s online games. The FTSE 100 company was also buoyed by “excellent” international growth in its US and Australian markets, where revenues jumped by 47% and 20% respectively. However, the … [Read more...] about Online gaming drives revenue growth at Paddy Power Betfair

Paddy Power Betfair to have Flutter on group name change as profits fall BelfastTelegraph.co.uk Gambling giant Paddy Power Betfair has unveiled plans to change its group name as it posted an 11% fall in annual profits after ramping up investment in its fledgling US sports betting business. https://www.belfasttelegraph.co.uk/business/uk-world/paddy-power-betfair-to-have-flutter-on-group-name-change-as-profits-fall-37884389.html https://www.belfasttelegraph.co.uk/business/uk-world/article37884388.ece/ffbfa/AUTOCROP/h342/bpanews_9395540b-6199-4704-9070-87ebb41632f6_1 Email Gambling giant Paddy Power Betfair has unveiled plans to change its group name as it posted an 11% fall in annual profits after ramping up investment in its fledgling US sports betting business. Weekly Business Digest Newsletter The firm said it would be seeking shareholder approval at its annual general meeting (AGM) in May for a change to Flutter Entertainment to reflect its “increasing … [Read more...] about Paddy Power Betfair to have Flutter on group name change as profits fall

Paddy Power Betfair to challenge £49m tax bills BelfastTelegraph.co.uk Paddy Power Betfair is to mount a legal challenge after being landed with a 55 million euro (£49 million) tax bill in Germany and Greece. https://www.belfasttelegraph.co.uk/business/uk-world/paddy-power-betfair-to-challenge-49m-tax-bills-37813928.html https://www.belfasttelegraph.co.uk/business/uk-world/article37813927.ece/00c41/AUTOCROP/h342/bpanews_80c02f6d-732e-45b2-96b1-08ceac8b88b3_1 Email Paddy Power Betfair is to mount a legal challenge after being landed with a 55 million euro (£49 million) tax bill in Germany and Greece. Weekly Business Digest Newsletter The bookmaker said on Wednesday that legacy tax assessments in the European countries – relating to Betfair Exchange in Germany and paddypower.com business in Greece – have resulted in demands for cash. In Germany, the Hessen Fiscal Court found against Paddy and deemed that a tax liability of approximately 40 million … [Read more...] about Paddy Power Betfair to challenge £49m tax bills

Paddy Power Betfair eyes Georgia with £101m deal BelfastTelegraph.co.uk Paddy Power Betfair is splashing out £101 million to acquire a majority stake in Georgia’s biggest online gaming firm. https://www.belfasttelegraph.co.uk/business/uk-world/paddy-power-betfair-eyes-georgia-with-101m-deal-37772740.html https://www.belfasttelegraph.co.uk/business/uk-world/article37772739.ece/aafa4/AUTOCROP/h342/bpanews_477b3fe6-4bb0-48ec-bd4d-d1168cd3080e_1 Email Paddy Power Betfair is splashing out £101 million to acquire a majority stake in Georgia’s biggest online gaming firm. The betting giant said on Friday that it will take a 51% stake in Adjarabet, which has a 40% share of the Georgian market. In 2018, Adjarabet booked £64 million in revenue and a profit of £20 million. Paddy Power Betfair boss Peter Jackson said: “This bolt-on acquisition is in line with our strategy of establishing podium positions in attractive online markets. … [Read more...] about Paddy Power Betfair eyes Georgia with £101m deal

Paddy Power Betfair upgrades full-year forecasts BelfastTelegraph.co.uk Paddy Power Betfair has upgraded its full-year profit forecasts as high-rollers from New York splurging 1.5 million US dollars (£1.1 million) a day boosted its performance in the US. https://www.belfasttelegraph.co.uk/business/uk-world/paddy-power-betfair-upgrades-fullyear-forecasts-37484811.html https://www.belfasttelegraph.co.uk/business/uk-world/article37484808.ece/1e005/AUTOCROP/h342/bpanews_0b7a8c06-7424-40d6-909b-f6faa086c068_1 Email Paddy Power Betfair has upgraded its full-year profit forecasts as high-rollers from New York splurging 1.5 million US dollars (£1.1 million) a day boosted its performance in the US. The bookmaker now expects full-year earnings to come in between £465 million and £480 million – up from between £460 million and £480 million – following a surge in betting at the Meadowlands Racetrack in New Jersey. It generated more than … [Read more...] about Paddy Power Betfair upgrades full-year forecasts